NCS Credit Lien Index 2023 Q3

The Lien Index decreased to 51 in Q3. The decrease comes on the heels of a revised rate of activity for Q2 2023, in which the Index increased from 47 to 54.

Despite the slowdown, lien activity is 13% higher than Q3 2022.

Cyclically, we expect to see the Index climb in Q4. As the season winds down and the fiscal year comes to a close, disputes, change orders, and lack of cash flow will slow and even stop payments.

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